XAUUSD, H4 has bounced from our Pivot, potential for a rise.
Description
Price is bouncing from our Pivot point at 1771.1 which is in line with 78.6% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1803.15 which is in line with 127% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the Ichimoku cloud in line with our bullish analysis.
Pivot: 1771.1
Why we like it:
78.6% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1757.41
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1803.15
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Price is bouncing from our Pivot point at 1771.1 which is in line with 78.6% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical overlap. We could potentially see a rise from our Pivot point towards our 1st resistance level at 1803.15 which is in line with 127% fibonacci retracement and 100% fibonacci extension. Do note that price is trending above the Ichimoku cloud in line with our bullish analysis.
Pivot: 1771.1
Why we like it:
78.6% fibonacci retracement, 50% fibonacci extension, ascending trendline and horizontal graphical overlap
1st Support: 1757.41
Why we like it:
127% fibonacci retracement, 100% fibonacci extension and horizontal swing low support
1st Resistance: 1803.15
Why we like it:
127% fibonacci retracement and 100% fibonacci extension
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.